Are you looking for the most lucrative small scale businesses in Nigeria to venture into in 2022?
Then, you are in the right place!
Being an entrepreneur can be a challenging prospect, and sometimes you don’t have to look any further than your own backyard to find some good business ideas.
In Nigeria, there are many small businesses that can provide you with a sustainable income and the ability to save money as well, if you know where to look.
There are several small scale businesses you can start with little capital in Nigeria that can turn into big money makers for you.
In this article, we will be sharing ten such business ideas. You can make it big as an entrepreneur and businessman in Nigeria if you know what to do and what to start with in terms of businesses or products.
Top 10 Lucrative Small Scale Businesses In Nigeria 2022
Here are the 10 most lucrative small scale businesses in Nigeria you can start with little capital.
1) Car Wash Business
Running a car wash could be one of Nigeria’s best small scale businesses you can start with little capital and no prior experience.
This business has a rather small capital requirement and could possibly even be run from home.
At its core, it involves renting out a space or area to wash cars, then providing cleaning solutions and doing all that is required to ensure customers’ vehicles are kept in good condition and as clean as possible.
Meanwhile, if you’re starting a car wash business in Nigeria, there are several things you should consider before taking off.
Such things include location if will start all alone or hire some staff if you will be using automation or a manual approach
To start off on the right foot, contact local officials first to understand what kind of special permits or licenses might be required in your city or region.
Car washes don’t require a large amount of capital to start and are very lucrative especially in major cities.
2) Hair Salons
The hair salon business is an excellent example of a small scale businesses in Nigeria that can offer a high return on investment.
This type of business could either be established in as small a space as 1,000 square feet and would also require minimal capital for start-up.
Furthermore, most of your materials such as shampoos, rinses and other products will already be available from a distributor or wholesaler and only need to be picked up by you.
People spend a lot of money on hair, so you can open a salon that offers services from basic cuts to styling and more.
More importantly, hair salons have excellent profit margins. It costs almost nothing to set up your business—and unlike other lucrative small scale businesses in Nigeria, you won’t need much capital either.
All you need is enough room for a chair or two and a little start-up capital.
If your community has a school or university, it’s also wise to do some research on student income levels—these customers will be more than willing to pay for an affordable service like yours.
The truth is: everyone loves pretty hair—and everyone needs it! So explore this lucrative small scale business in Nigeria
3) Online Tutoring
One of the most lucrative small scale businesses in Nigeria, online tutoring is one of my favorite small-scale businesses.
With just about everyone having access to the Internet, it makes no sense why we don’t use it to solve our problems and make money at the same time.
If you have qualifications and training in a particular field, whether it’s for tutoring children or adults, you’ll be able to make money around online tutorials
So only if you happen to be doing what you love and are really good at it would online tutoring make sense for you as a small-scale business idea.
As technology becomes more and more ubiquitous, online tutoring has gained a great deal of popularity.
The convenience of online tutoring is appealing to many students, who don’t want to miss out on regular school lessons for appointments with their teachers.
4) Mobile Phone Repairs
One of these lucrative small scale businesses in Nigeria is phone repair. This can be a profitable small scale business to start with little capital.
However, you will have to invest in some training and tools such as screwdrivers, pry tools, flat head screwdrivers, eyeglasses, and gloves for protection against electrostatic discharge (ESD).
Apart from that you also need a magnetic mat to place your gadget on before disassembling it.
It also helps if you have access to an internet connection as sometimes it’s necessary to look for information about new gadgets being released on mobile phone stores like Jumia or Konga.
Also, due to high level of internet usage and social media engagement amongst netizens, there is an increase circulation of phones and regular breakdown of phones.
Consequently, there is more demand for mobile phone repair services than ever before.
5) Delivery Services
When it comes to small-scale businesses in Nigeria, delivery services are easy to set up and run. People are constantly on-the-go, so what better business than one that delivers packages from door to door?
Whether it’s a one-time delivery or a subscription service for packages, your chances of success are good if you can find steady work delivering items.
If you’re looking for ways to generate income in Nigeria, delivery services might be your ticket to success.
Chances are you won’t be living in Nigeria for long, and therefore will want to make money without having to spend a lot on infrastructure.
By providing a delivery service in your area of expertise—for example, delivering documents or food from restaurants in larger cities like Lagos, pH, and Abuja—you can earn a little extra cash while building up a local clientele.
Once you’ve built up enough capital and business, you can scale up and start expanding your services.
Don’t have a car? Not to worry; motorbike delivery services are just as viable if not more than car or motorcycle services.
6) Personal Training
There is no doubt that fitness training is currently in high demand in Nigeria.
According to credible studies, people who are serious about getting fit are increasingly using professionals for one-on-one training sessions.
It is true that most of these trainers offer expensive personal training packages, but that doesn’t mean you have to break your bank just to get into shape.
It’s totally possible to own a successful fitness business with very little capital investment; all you need are some basic tools and supplies, an online presence, and a solid business plan.
If you like physical fitness and you have some coaching experience, then why not turn your passion into a profession?
Why not use all your knowledge of personal fitness to help other people shape up and reach their fitness goals?
And that way, you would have started a lucrative small scale business in Nigeria with little capital and huge ROI.
7) Tailoring Services
In Nigeria, tailoring services are usually associated with fabrics and tailoring but there are other forms of tailoring services that can prove lucrative if done right.
Tailoring services in Nigeria is a great small-scale business for anyone who loves fashion and has some good craft skills.
You can offer services like mending, tailoring new clothes as well as making fashion accessories from scratch. This is one of those small-scale businesses that can be quite lucrative if you play your cards right.
It requires patience, perseverance, hard work, and above all passion for what you do if you want to succeed at it.
And some of the materials you will need are sowing machines, needles, buttons, thread, and other materials specific to your craft such as leather, braids, etc but be sure to source durable fabrics that can withstand constant use.
8) Computer Repairs
Computer repairs are a lucrative business in Nigeria. These days, almost everyone is using a computer, smartphone, or some other device that can get broken.
If you know how to fix these things, start a computer repair business and you could be sitting on a gold mine. In fact, for every broken laptop in Nigeria – there’s someone who knows how to fix it.
You have to extremely good and also study up your shop’s location.
If you want to succeed with computer repairs as a small-scale business idea in Nigeria. The first step? You have to be extremely good at your craft and also study up your shop’s location.
Why is this business so lucrative?
There are so many factors to consider when buying a computer, making it difficult for some customers to find exactly what they’re looking for.
As a result, most people who buy computers usually have to get repairs within a short period of time.
Computer repair shops offer all-around computer services, ranging from internet connection and software installation to hardware upgrades and the removal of viruses and malware.
Customers will definitely visit these stores again in the future due to quality service delivery. Therefore it is a lucrative small scale business that makes big money!
9) Handmade Jewelry
In Nigeria, jewelry making is big business, in part because people wear them all year round.
While they might not be as profitable as other small-scale businesses, handmade jewelry is an incredibly popular item in Nigeria.
There are thousands of women making and selling jewelry out of small ateliers or from their homes. While it’s a business anyone can do on a shoestring budget, if you’re passionate about design and have some serious artistic skills, handmade jewelry can be a lucrative venture in Nigeria.
Making jewelry requires little in terms of startup capital and can be quite lucrative.
Selling high-quality jewelry online will allow you to reach a larger audience and still be able to take advantage of many of Nigeria’s geographical features (i.e., low cost).
To maximize your revenue, try producing unique designs or locally inspired pieces that Nigerians will likely have never seen before.
Online tools such as Etsy, Zazzle, Big Cartel, and ArtFire are great resources for connecting with other jewelers around Nigeria and finding out what types of products tend to sell best in different parts of Nigeria.
If you’re hoping to build up a client base and become a household name in your community, focusing on personalized jewelry that reflects local tastes is an excellent way to attract loyal customers.
10) Event Planning
Event planning is perhaps one of Nigeria’s most profitable small-scale businesses. Especially with a population that throws big parties, an event planner can expect to do very well in Nigeria.
Event planners plan, organize and coordinate parties and special events including weddings, birthdays, and corporate events.
People often spend hundreds or thousands of dollars on events, gatherings, wedding ceremonies, birthdays, etc. Therefore having an event planning/management company on your side can offer lucrative and useful services.
Event planners help clients with nearly every aspect of their plans and will also help you find venue options that will best meet your needs at an affordable price.
They make sure that every aspect of such functions is taken care of from hiring performers to buying decorations and managing vendors.
They need to be very creative in order to come up with innovative party ideas so as not to get bored with their clients who have attended many parties before.
They should also ensure that things run smoothly throughout these events which includes timing everything properly so that there won’t be any delays during any stage of function.
Conclusion
Starting your own business can be tough, especially if you don’t have the capital to buy everything needed to have a FULLY functional Business
Thankfully, there are plenty of small businesses you can start on a tight budget;
For this reason we compiled 10 most lucrative small scale businesses in Nigeria that you can start with little capital and go on to earn as much as ₦100,000 per month in profit.